View Full Version : Vitol “Apologises” for Kurdish Oil Purchase

Investors Iraq News
12-11-2012, 04:25 PM
Reuters reports that top oil trader Vitol has apologised to the Iraqi government for buying Kurdish oil that was exported via Turkey without Baghdad’s permission.
Iraqi Oil Minister Abdul-Kareem Luaibi [Elaibi] said on in Vienna:
“In terms of Vitol, they have cancelled the Kurdish amount and they apologised officially … As for LUKoil, there will be a meeting about this concern (http://www.iraq-businessnews.com/2012/11/28/russias-lukoil-exported-kurdish-oil/) – maybe tomorrow or the day after.“
He made no mention of Trafigura.
Kurdistan began selling oil (http://www.iraq-businessnews.com/2012/10/23/kurdistan-begins-oil-exports-defying-baghdad/) into international markets in independent export deals in October, further challenging Baghdad’s claim to full control over Iraqi oil after signing independent exploration deals with foreign oil majors last year.
(Source: Reuters)

Source: Iraq-BusinessNews.com. (http://www.iraq-businessnews.com/2012/12/11/vitol-apologises-for-kurdish-oil-purchase/)

Post your commentary below.